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Santander one year ISA entices savers

Santander one year ISA entices savers

Category: Savings

Updated: 06/02/2013
First Published: 29/03/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Santander has shown its one year ISA hand with the launch of a new postal account that pays a top rate on higher deposits.

The 1 Year Fixed Rate ISA, with a minimum investment of £500, pays 2.00% on maturity, while £8.5K or more pays interest of 3.00%.

Transfers in are permitted, although no further additions are allowed. Earlier closure and transfers out are subject to 90 days' loss of interest.

The launch of this one year fixed rate ISA complements the existing two year option, offering investors a short term home for their ISA allowance.

Paying up to 3.00% it sits within the top quartile of similar fixed rate ISAs, although this higher rate is only available for those with previous years' ISA subscriptions to transfer.

Four out of five Moneyfacts stars have been awarded.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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